(Communicated by the Ministry of Economy)

Economy Minister Aryeh Deri and Finance Minister Moshe Kahlon submitted a proposal to establish a National Authority for Technology and Innovation (NATI). The government approved the ministers' proposal to establish the authority, which will function as the executive arm of the Office of the Chief Scientist at the Israeli Ministry of Economy.
 
The government's innovation policy aims at achieving broad national goals in the coming decade, including: encouraging growth of industrial companies, injecting technological innovation into traditional fields which are not traditionally R&D dependent, strengthening research infrastructure as well as capital and labor, harnessing innovation for the improvement of the public sector and increasing the participation of sectors currently underrepresented in the hi-tech work force.
 
In light of the great importance of innovation in Israel, which in recent years has become the main engine of growth for the Israeli economy and a source of national pride, the government's capabilities must be improved, via a structural change to the Office of the Chief Scientist which will bring forth improved operational capabilities for Israeli industry. The structural change is designed to enable the government to continue to determine its policies in this field.
 
Establishing the authority will reinforce the government's long-term goals for the hi-tech industry, namely, maintaining and even increasing Israel's global leadership in the face of growing competition while at the same time connecting wider parts of the economy to this engine of growth.

The authority will have the professional capabilities and maximum flexibility to allow it to take initiatives and efficiently promote technological innovation in industry at a pace that befits the market. The additional goals of the authority are encouraging growth, increasing productivity and promoting technological innovation in various fields of industry in Israel.

Economy Minister Aryeh Deri: "The efficient operation of the Office of the Chief Scientist at the Ministry of Economy, including its activities to support diverse sectors within Israeli industry, must be facilitated in order to maintain the leadership position of Israeli technology in the world, while making a significant contribution to the local economy, breaking into new markets, developing traditional industries and simplifying work processes, all with an eye to strengthening Israel's standing as a world leader in innovation."
 
Finance Minister Moshe Kahlon: "One of the goals we decided on at the Finance Ministry is to support and to promote any proposal that will encourage entrepreneurship and strengthen Israel's position as a "start-up nation". This innovation authority will help strengthen Israel's international economic relations in all fields and just as importantly - it will make the lives of entrepreneurs easier. Maintaining Israel's position as a technological powerhouse is an economic and existential duty for us."